The global Pharmaceutical Logistics Market is estimated to be valued at US$ 183 Billion in 2031

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the global pharmaceutical logistics market. Coherent Market Insights’ analyst projected the global pharmaceutical logistics market is estimated to be valued at US$ 183 Bn in 2030. It is expected to exhibit a CAGR of 9.1% over the forecast period 2024 -2031.

Increasing pharmaceutical production and stringent regulations for drug transportation drives market growth. Pharmaceutical producers are increasingly outsourcing their logistics operations to third-party service providers in order to achieve efficiency and safety norms in the industry.

Furthermore, as worldwide trade in pharmaceuticals grows, excellent cold chain logistics are required to maintain the quality of temperature-sensitive medicines during international shipping.

Key Market Trends: Cold chain monitoring systems– Cold chain monitoring systems- Advances in cold chain monitoring technology will be a growth driver in the market for the forecast period. Cold chain logistics providers are increasingly adopting cold chain monitoring systems, such as thermal labels, RFID tags, and GPS trackers, to get real-time visibility and maintain temperature control of shipments. Sourcing location, temperature, humidity, and light-exposure-based monitoring sensors and telematics solution integrated with analytics for predicting future deviations is going on.

Real-Time Track and Trace Solutions: Implementation of track and trace solutions allows tracing of individual drug packages at shipment and batch level. Pharmaceutical companies and regulatory authorities are mandating serialized packaging to curtail counterfeit drug trade. Real-time track and trace solutions ensure integrity of supply chain by authenticating, tracking and tracing pharmaceutical shipments right from manufacturing to patient delivery.

Pharmaceutical Logistics Market Opportunities: The transportation/shipping segment represented the largest share in the pharmaceutical logistics market around the world during 2023. This category includes sea freight logistics, airfreight logistics, and overland logistics for the movement of pharmaceuticals. The share of this category is also maximum because more dependability on shipping services for temperature-sensitive drugs and biologics supply across geographies.

On the basis of type, the cold chain logistics market is expected to grow at the highest CAGR during the forecast period 2024-2031. This can be primarily contributed to the higher demand for temperature-controlled packaging, monitoring devices and thermal facilities used to transport temperature-sensitive drugs such as vaccines, insulin, and blood products. Severe regulations governing the storage and distribution of these products are another factor that supports the adoption of cold chain logistics services.

Product type– In 2023, the biopharma sector led the market. This follows the high production rates and application of biologic products globally. Biologic products require tight control of environmental factors like temperature, humidity, and vibration in their transportation.

Key Market Takeaways: The global pharmaceutical logistics market is anticipated to witness a CAGR of 9.1% during the forecast period 2024-2031. This is owing to increasing online pharmaceutical sales and rising demand for temperature-sensitive drugs.

On the basis of service type, transportation/shipping segment is expected to hold a dominant position. This is owing to its wide application in delivery of pharmaceutical products globally.

On the basis of type, cold chain logistics segment is projected to witness highest growth rate. This is due to focus on specialized shipping services for biologics and vaccines.

North America is expected to hold a dominant position over the forecast period. This is owing to presence of major pharmaceutical logistics providers and stringent regulations regarding drug transportation.

Competitor Insights: Key players operating in the global pharmaceutical logistics market include Maersk, United Parcel Service of America, Inc., DHL Group, Schenker, CEVA Logistics, SLB Performance, YUSEN LOGISTICS CO., LTD, NextPharma Logistics GmbH, Skandi, Movianto, Continental Carriers, Varuna Group, Sugamgroup, V Xpress, Avvashya CCI Logistics Private Limited.

Recent Developments: In March 2023, the worldwide law firm Dentons and the logistics business GEODIS provided advice on the purchase of trans-o-flex, a logistics service provider that specializes in the temperature-controlled transportation of high-tech and medicinal goods. GEODIS hopes to further develop its integrated freight network in Germany with the acquisition. More information in full report